899,069 Shares in Chubb Limited $CB Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Chubb Limited (NYSE:CB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 899,069 shares of the financial services provider’s stock, valued at approximately $306,349,000.

Other hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Chubb by 148.5% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 82 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 49 shares during the period. Frazier Financial Advisors LLC boosted its stake in Chubb by 86.4% during the 1st quarter. Frazier Financial Advisors LLC now owns 82 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 38 shares during the period. Merkkuri Wealth Advisors LLC acquired a new stake in Chubb in the 1st quarter valued at approximately $29,000. Laurel Wealth Advisors LLC acquired a new stake in Chubb in the 4th quarter valued at approximately $31,000. Finally, Ares Financial Consulting LLC acquired a new stake in Chubb in the 4th quarter valued at approximately $32,000. 83.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Chubb from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 29th. Evercore restated an “outperform” rating and issued a $374.00 price objective on shares of Chubb in a research note on Friday, July 10th. Barclays set a $387.00 target price on shares of Chubb in a research report on Tuesday, July 7th. Citizens Jmp reiterated a “market outperform” rating and set a $400.00 target price on shares of Chubb in a research note on Wednesday, July 22nd. Finally, Piper Sandler increased their price target on shares of Chubb from $340.00 to $374.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $360.09.

Chubb Trading Down 0.7%

Chubb stock opened at $341.24 on Tuesday. The business has a 50 day moving average price of $344.69 and a two-hundred day moving average price of $332.47. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.22. Chubb Limited has a 12 month low of $265.30 and a 12 month high of $365.91. The stock has a market cap of $131.65 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.70 and a beta of 0.39.

Chubb (NYSE:CB) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $7.26 earnings per share for the quarter, topping the consensus estimate of $6.77 by $0.49. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $15.07 billion. Chubb had a return on equity of 14.47% and a net margin of 18.10%.Chubb’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.14 EPS. As a group, equities analysts forecast that Chubb Limited will post 27.45 EPS for the current year.

Chubb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, September 11th. This represents a $4.08 dividend on an annualized basis and a yield of 1.2%. Chubb’s payout ratio is currently 14.43%.

Insider Buying and Selling at Chubb

In other news, EVP Joseph F. Wayland sold 8,502 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $364.54, for a total transaction of $3,099,319.08. Following the completion of the transaction, the executive vice president directly owned 33,749 shares of the company’s stock, valued at approximately $12,302,860.46. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John W. Keogh sold 23,000 shares of Chubb stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $321.51, for a total transaction of $7,394,730.00. Following the sale, the chief operating officer owned 203,322 shares in the company, valued at approximately $65,370,056.22. This trade represents a 10.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.37% of the company’s stock.

Chubb Company Profile

Chubb is a global property and casualty insurance company that underwrites a broad range of commercial and personal insurance products and related services. Its offerings include commercial property and casualty coverage, specialty liability, professional and management liability, cyber and technology insurance, marine and energy, surety, accident and health solutions, and high-net-worth personal lines such as homeowners, auto and valuables protection. Chubb serves businesses, individuals and institutions with tailored underwriting and risk-transfer solutions across multiple industry sectors.

In addition to core underwriting, Chubb provides risk engineering, loss control, claims management and risk consulting services intended to reduce loss severity and help clients manage exposures.